Australian Gold and Copper Ltd (ASX:AGC) has delivered high-grade results from the first two diamond core holes in its recent 10-hole program at the silver-dominant Achilles discovery, part of the South Cobar Project in central New South Wales.
The initial two holes, A3DD003 and A3DD004, were drilled near previous high-grade reverse circulation (RC) intersections to further investigate mineralisation controls and variability.
Diverse mineralisation
Hole A3DD004, drilled in the central section of the deposit, reported a notable 9.1-metre interval grading 3.0 g/t gold, 698 g/t silver, 1.2% copper and 19.4% combined lead and zinc from 126.5 metres.
This interval includes a higher-grade sub-section of 2.5 metres with grades reaching 6.7 g/t gold, 1,625 g/t silver, 0.9% copper and 18.5% lead plus zinc.
Hole A3DD003, positioned in the northern section, returned 19 metres at 0.3 g/t gold, 73 g/t silver, 0.5% copper and 11.1% combined lead and zinc from a depth of 92 metres.
This included a high silver zone of 4.5 metres at 227 g/t silver and 3.4% lead plus zinc as well as a base-metal-rich section with up to 1.5% copper and 39.3% lead plus zinc in the deeper layers.
“I am so pleased with these results,” AGC managing director Glen Diemar said.
“Diamond drilling has given us new insights into the structural controls and mineralogy of the mineralisation, allowing us to improve future drill targeting.
“We see thick, consistent, very high-grade mineralisation quite close to surface along the length of the deposit.”
The mineralisation at Achilles is structurally controlled by the Achilles shear zone, which has led to consistent, high-grade intersections in various rock types in the hanging wall.
Extensive RC preparation
These initial diamond drill holes follow an extensive RC drilling program and provide detailed insights into the structural and mineralogical characteristics of the deposit.
A total of 2,756 metres were drilled across the 10-hole diamond program to improve understanding of the higher-grade zones' geometry and target deeper extensions.
Processing of the remaining drill core is complete, with additional assay results expected shortly.
AGC is set to advance exploration activities with a drone magnetic survey planned to identify further mineralised structures.
Additionally, preparations are underway for a systematic air core drilling program to explore near-surface mineralisation.
“AGC’s next phase of growth is underway,” Diemar continued.
“We are about to kick off a drone magnetic survey to aid in locating additional mineralised structures.
“Planning is well underway for a large, systematic aircore drill program to target additional mineralisation in the near-surface zone.
“These future programs, along with the work already completed, will significantly increase the discovery potential of the area.
“Processing of all diamond drill core is now complete as of this week. We expect new results shortly, helping to grow our knowledge of the deposit.”